3 ms·
I don't think have the luxury of imagining a metric that we wish money to represent any more than we can say that "the number of rats in New York" means anythin
by munificent 7y ago
I don't think have the luxury of imagining a metric that we wish money to represent any more than we can say that "the number of rats in New York" means anything in any abstract sense. The value of money is an emergent property of what people do with it and if its numeric measure fails to track our selected "objective metric", it's the fault of our metric, not money itself.
- mindslight 7y agoObjective measures are necessary to independently judge the actions of the people in charge of the money supply. To write off objective standards is to hand them an enormous amount of unchecked power, power which will invariably be abused for their gain.